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Toronto Sun
7 hours ago
- Business
- Toronto Sun
Thorough estate planning 'one of the most loving things'
Published Jun 20, 2025 • Last updated 0 minutes ago • 3 minute read Julia Chung, senior financial planner at Spring Planning is shown in this handout photo. Photo by handout/Spring Planning / The Canadian Press Reviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from purchases made through links on this page. What does it matter if I'm going to be dead anyway? This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account It's a comment sometimes heard by Julia Chung, an advice-only financial planner at Spring Planning in Vancouver. Her retort: 'It isn't about you. It's about the people that you leave behind.' Having a well-thought-out estate plan is 'one of the most loving things you can do for your friends and family,' Chung says. And it goes far beyond drawing up a will laying out who gets what when you're six feet under. Indeed, Chung says there's planning that must be done for when you're still among the living, but may have lost the ability to make your own decisions due to dementia or other conditions. People are living longer thanks to advances in science, 'but not all of us are going to live really well,' Chung says. A power of attorney is set out in a document entirely separate from a will, and doesn't automatically default to a spouse or adult child. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. There are also financial assets that fall outside of a person's will that need to be sorted out, like beneficiary designations for life insurance, RRSPs and TFSAs. The last thing a bereaved loved one wants to do is go on a wild-goose chase for the information they need to tie up financial loose ends, so some of Chung's clients have a binder put together with key information. 'What information do they need? Just having a will isn't going to tell them where you bank or how to access your mail or who your investment adviser is,' says Chung. 'So how do we get that information to them?' Another aspect to think through is how and when any minor children left behind can access their inheritance. Chung recommends structuring a trust so a young person gets the funds in staggered amounts, not in one big lump sum. This advertisement has not loaded yet, but your article continues below. 'As I always say to my clients when I see this, 'Think back to when you were 18 or 19. Were you making really smart financial decisions? Because I wasn't,'' she says. Last month, IG Wealth Management released its annual estate planning study, which suggested 54 per cent of Canadians lack a plan. Twenty-nine per cent of respondents said their reason for not having an estate plan was their perceived lack of wealth. 'Ironically, I think that in many cases, it's the people who don't have sufficient wealth yet that need to think about estate planning the most, especially if they have dependents,' said Christine Van Cauwenberghe, IG's head of financial planning in Winnipeg. Forty per cent of respondents reported having legal documents in place to safeguard their finances should they be diagnosed with cognitive decline. This advertisement has not loaded yet, but your article continues below. The survey was conducted online by Pollara Strategic Insights, and polled 1,017 adult Canadians between April 10 and 21. The polling industry's professional body, the Canadian Research Insights Council, says online surveys cannot be assigned a margin of error because they do not randomly sample the population. Van Cauwenberghe says estate planning can be made more complicated in blended families. For instance, it could be all well and good for someone to designate a partner a direct beneficiary for a life insurance policy. But if that partner passes away, children from a previous relationship may be 'completely disinherited,' she says. 'It's usually inadvertent, but it's just due to a lack of planning.' This advertisement has not loaded yet, but your article continues below. Another item to check off the to-do list is to choose who can serve as executor of your estate, power of attorney and guardian to minor children. It's not necessarily best to have the same person do each job, and it may not make sense to tab someone close to you. 'I think sometimes people choose their executor because they think that person will be offended if you don't choose them. That person would probably be relieved not to be chosen,' says Van Cauwenberghe, adding corporate trustees are an option when there's no one willing or able to take on the tasks. 'It's a big job and understand that most people don't have any experience in it. They don't know what to do, they delay, they make mistakes, they don't reach out to the right experts and it can be very stressful.' Van Cauwenberghe says it can be tough to put these difficult decisions at the top of the priority list. 'If you never set aside the time, it's never gonna happen,' she says. 'But you're not going to be the one to pay the price. It will be your loved ones who will pay the price for your lack of planning.' Toronto & GTA Columnists MMA World NHL
Hamilton Spectator
a day ago
- Business
- Hamilton Spectator
Ginger Restaurant and Orchid Inn closes after decades in NOTL
This summer is going to be different for Cindy Chung. After closing down the joint restaurant and inn she spent the past three decades running, she says she's going to be busy having tea with all the customers who are sad to see her go. After almost 30 years of serving locals and visitors in Niagara-on-the-Lake, Ginger, the intimate Mary Street restaurant, officially shut its doors on June 15, along with Orchid Inn. Chung, a NOTL resident, is retiring at age 70, after delaying her plan to do so for five years due to COVID-19. She opened Ginger in 1997 and, in 2006, expanded the family-run operation by adding the Orchid Inn — a small, country-style inn located on the same property. The small staff of five — Chung, her two sons Thane and Seth Garth and cooks Adam Bobro and Phil Wall, who's been there since day one — will all be leaving with the closure. Since announcing the closure in a June 7 post on the restaurant's Facebook page , Chung said customers have been happy for her retirement but emotional about seeing her and the establishments go. 'They always say: Happy for me and sad for them,' said Chung in an interview. 'We are sad too, in a way, because it's a long time.' Chung did not disclose how much she sold the business for and chose not to share the names of the new owners, but confirmed they are based in Niagara and will officially take over on June 30 and plan to continue operating an inn and restaurant. 'Like we used to do,' she said, adding that she's not sure if the name Ginger will stay, though it's more likely they'll choose a new one. But none of the existing staff will be staying. 'I think they will take a little break and decide what to do,' she said. 'It will be completely new management and new people working, as far as I know.' Chung said there was something special about running a business in NOTL — a small town where, over the years, she got to know many people personally. 'I become a friend,' she said. 'And then I promise to have tea with so many of them.' The town also became a home for her family. Both of her sons, chef Thane and manager Seth, grew up in the community and worked at Ginger. Still, she never expected them to take over. Running a small business is a lifestyle, she said — and with her sons now raising young families, she wanted them to have other options. Chung said her favourite memories of running Ginger and Orchid Inn weren't grand events, but the ordinary, everyday moments. One that stood out, though, came during the pandemic, when locals went out of their way to order takeout and support the restaurant through difficult times. 'That was really nice of them,' she said. And none of it would have been possible without the people who worked beside her, she added. 'All of them are very, very devoted and nice — and work hard. I have to thank them,' she said. To Chung, customers became more than just diners or guests. 'I appreciate their business and I appreciate their friendship,' she said, adding that in the final weeks before closing, she truly felt that appreciation returned. 'We know how much we will be missed — and it is good to know,' she said. The restaurant tried to seat as many people as possible during those final weeks, but there just weren't enough tables for everyone hoping to enjoy one last meal at Ginger, she said. As for what's next, Chung plans to spend the summer having tea with friends and customers — just like she promised. And when winter comes, she hopes to be somewhere in Hong Kong. While she'll stick to cooking the simple, home-style dishes her granddaughters love, the heart of Ginger's menu will live on through her son, chef Thane, she said. 'The menu is from my son, Thane,' said Chung. paigeseburn@ Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
Hamilton Spectator
a day ago
- Business
- Hamilton Spectator
Thorough estate planning ‘one of the most loving things': financial planner
What does it matter if I'm going to be dead anyway? It's a comment sometimes heard by Julia Chung, an advice-only financial planner at Spring Planning in Vancouver. Her retort: 'It isn't about you. It's about the people that you leave behind.' Having a well-thought-out estate plan is 'one of the most loving things you can do for your friends and family,' Chung says. And it goes far beyond drawing up a will laying out who gets what when you're six feet under. Indeed, Chung says there's planning that must be done for when you're still among the living, but may have lost the ability to make your own decisions due to dementia or other conditions. People are living longer thanks to advances in science, 'but not all of us are going to live really well,' Chung says. A power of attorney is set out in a document entirely separate from a will, and doesn't automatically default to a spouse or adult child. There are also financial assets that fall outside of a person's will that need to be sorted out, like beneficiary designations for life insurance, RRSPs and TFSAs. The last thing a bereaved loved one wants to do is go on a wild-goose chase for the information they need to tie up financial loose ends, so some of Chung's clients have a binder put together with key information. 'What information do they need? Just having a will isn't going to tell them where you bank or how to access your mail or who your investment adviser is,' says Chung. 'So how do we get that information to them?' Another aspect to think through is how and when any minor children left behind can access their inheritance. Chung recommends structuring a trust so a young person gets the funds in staggered amounts, not in one big lump sum. 'As I always say to my clients when I see this, 'Think back to when you were 18 or 19. Were you making really smart financial decisions? Because I wasn't,'' she says. Last month, IG Wealth Management released its annual estate planning study, which suggested 54 per cent of Canadians lack a plan. Twenty-nine per cent of respondents said their reason for not having an estate plan was their perceived lack of wealth. 'Ironically, I think that in many cases, it's the people who don't have sufficient wealth yet that need to think about estate planning the most, especially if they have dependents,' said Christine Van Cauwenberghe, IG's head of financial planning in Winnipeg. Forty per cent of respondents reported having legal documents in place to safeguard their finances should they be diagnosed with cognitive decline. The survey was conducted online by Pollara Strategic Insights, and polled 1,017 adult Canadians between April 10 and 21. The polling industry's professional body, the Canadian Research Insights Council, says online surveys cannot be assigned a margin of error because they do not randomly sample the population. Van Cauwenberghe says estate planning can be made more complicated in blended families. For instance, it could be all well and good for someone to designate a partner a direct beneficiary for a life insurance policy. But if that partner passes away, children from a previous relationship may be 'completely disinherited,' she says. 'It's usually inadvertent, but it's just due to a lack of planning.' Another item to check off the to-do list is to choose who can serve as executor of your estate, power of attorney and guardian to minor children. It's not necessarily best to have the same person do each job, and it may not make sense to tab someone close to you. 'I think sometimes people choose their executor because they think that person will be offended if you don't choose them. That person would probably be relieved not to be chosen,' says Van Cauwenberghe, adding corporate trustees are an option when there's no one willing or able to take on the tasks. 'It's a big job and understand that most people don't have any experience in it. They don't know what to do, they delay, they make mistakes, they don't reach out to the right experts and it can be very stressful.' Van Cauwenberghe says it can be tough to put these difficult decisions at the top of the priority list. 'If you never set aside the time, it's never gonna happen,' she says. 'But you're not going to be the one to pay the price. It will be your loved ones who will pay the price for your lack of planning.' This report by The Canadian Press was first published June 19, 2025.
Winnipeg Free Press
a day ago
- Business
- Winnipeg Free Press
Thorough estate planning ‘one of the most loving things': financial planner
What does it matter if I'm going to be dead anyway? It's a comment sometimes heard by Julia Chung, an advice-only financial planner at Spring Planning in Vancouver. Her retort: 'It isn't about you. It's about the people that you leave behind.' Having a well-thought-out estate plan is 'one of the most loving things you can do for your friends and family,' Chung says. And it goes far beyond drawing up a will laying out who gets what when you're six feet under. Indeed, Chung says there's planning that must be done for when you're still among the living, but may have lost the ability to make your own decisions due to dementia or other conditions. People are living longer thanks to advances in science, 'but not all of us are going to live really well,' Chung says. A power of attorney is set out in a document entirely separate from a will, and doesn't automatically default to a spouse or adult child. There are also financial assets that fall outside of a person's will that need to be sorted out, like beneficiary designations for life insurance, RRSPs and TFSAs. The last thing a bereaved loved one wants to do is go on a wild-goose chase for the information they need to tie up financial loose ends, so some of Chung's clients have a binder put together with key information. 'What information do they need? Just having a will isn't going to tell them where you bank or how to access your mail or who your investment adviser is,' says Chung. 'So how do we get that information to them?' Another aspect to think through is how and when any minor children left behind can access their inheritance. Chung recommends structuring a trust so a young person gets the funds in staggered amounts, not in one big lump sum. 'As I always say to my clients when I see this, 'Think back to when you were 18 or 19. Were you making really smart financial decisions? Because I wasn't,'' she says. Last month, IG Wealth Management released its annual estate planning study, which suggested 54 per cent of Canadians lack a plan. Twenty-nine per cent of respondents said their reason for not having an estate plan was their perceived lack of wealth. 'Ironically, I think that in many cases, it's the people who don't have sufficient wealth yet that need to think about estate planning the most, especially if they have dependents,' said Christine Van Cauwenberghe, IG's head of financial planning in Winnipeg. Forty per cent of respondents reported having legal documents in place to safeguard their finances should they be diagnosed with cognitive decline. The survey was conducted online by Pollara Strategic Insights, and polled 1,017 adult Canadians between April 10 and 21. The polling industry's professional body, the Canadian Research Insights Council, says online surveys cannot be assigned a margin of error because they do not randomly sample the population. Van Cauwenberghe says estate planning can be made more complicated in blended families. For instance, it could be all well and good for someone to designate a partner a direct beneficiary for a life insurance policy. But if that partner passes away, children from a previous relationship may be 'completely disinherited,' she says. 'It's usually inadvertent, but it's just due to a lack of planning.' Another item to check off the to-do list is to choose who can serve as executor of your estate, power of attorney and guardian to minor children. It's not necessarily best to have the same person do each job, and it may not make sense to tab someone close to you. 'I think sometimes people choose their executor because they think that person will be offended if you don't choose them. That person would probably be relieved not to be chosen,' says Van Cauwenberghe, adding corporate trustees are an option when there's no one willing or able to take on the tasks. Monday Mornings The latest local business news and a lookahead to the coming week. 'It's a big job and understand that most people don't have any experience in it. They don't know what to do, they delay, they make mistakes, they don't reach out to the right experts and it can be very stressful.' Van Cauwenberghe says it can be tough to put these difficult decisions at the top of the priority list. 'If you never set aside the time, it's never gonna happen,' she says. 'But you're not going to be the one to pay the price. It will be your loved ones who will pay the price for your lack of planning.' This report by The Canadian Press was first published June 19, 2025.
The Guardian
3 days ago
- General
- The Guardian
The secret to crisp tofu
I want to like tofu, but I don't because of its rubbery texture. How do I make it nice and crisp? Anne, by email 'Moisture is the enemy of crisp tofu,' says Emma Chung, author of Easy Chinese Food Anyone Can Make, so the quest for cubes of bean curd that are crisp on the outside and soft on the inside starts by getting rid of as much excess water as possible (and choosing a tofu labelled 'firm' or 'extra-firm' in the first place). 'I usually do this by wrapping the tofu in tea towels, placing it between two large plates and putting a heavy pot or pan on top,' Chung says. After 10 minutes, you 'should have a nice and firm tofu that will have a lovely texture, and it will be a lot easier to crisp up'. Guardian columnist Ravinder Bhogal, meanwhile, pops her tofu on a wire rack set over a tray and covers it with kitchen paper or a clean cloth: 'Put a weight on top and leave it for a couple of hours, and ideally overnight – that will squeeze out the excess moisture.' She then pats the tofu dry and coats it in corn, rice or potato flour before frying (or putting in an air fryer) for an 'off-the-Richter crunch'. Chung is simpatico, coating her tofu pieces in a thin layer of cornflour to create a crust that 'turns extra crisp when fried or baked'. Simply put the cubed tofu in a bowl, cover 'generously' with cornflour and give everything a good toss. 'If you're using slices of tofu, dip them in a shallow plate of cornflour to make sure they're evenly coated.' Kirk Haworth, chef and co-founder of Plates, the UK's first Michelin-starred vegan gaff, recommends hard-frying the coated tofu. Pour oil into a pan and, once that's 'really hot, whack in the tofu and fry, stirring constantly, for about three minutes'. Don't overcrowd the pan, though, so fry it in batches, if need be, and transfer the cooked cubes to a paper-lined plate to drain. At this time of year, Haworth would then be inclined to toss those crisp cubes through a cold noodle salad, or pile them on to little gem lettuce leaves, while Chung prefers hers in a salad of chopped cucumber and cherry tomatoes. Either way, you'll want a punchy sauce to go with it, because tofu is more a vehicle for flavour than a wonder in its own right: 'Equal parts soy sauce, vinegar, tahini, a splash of sesame oil and chilli oil would be my basic go-to,' Chung says. Alternatively, dial up the heat with Meera Sodha's chilli tofu. Fry bashed cumin seeds and diced onion in oil until soft, then add crushed garlic, grated ginger and green chilli. After five minutes, go in with some ground black pepper, tomato puree, soy sauce, sugar and salt, followed by sliced red and green peppers and a little water. Once the peppers are soft, add the crisp fried tofu to the pan to warm through, then add greens and chapatis to serve. And if you're still struggling with that rubbery texture, Haworth recommends tempura-ing your tofu: 'Marinate it in soy sauce, honey and chilli, leave it, then dip in tempura batter and fry,' he says. 'Now that's definitely going to be crisp – although probably a little less healthy.' Got a culinary dilemma? Email feast@
